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Stock Market & Financial Investment News

News Breaks
July 28, 2014
11:39 EDTFDO, DLTR, DG, WMTWells says potential for competing Family Dollar bid an unknown
Wells Fargo believes the proposed merger between Dollar Tree (DLTR) and Family Dollar (FDO) is more likely to receive regulatory approval than the deal investors had been expecting, a Dollar General (DG) buyout of Family Dollar. Wells thinks Wal-Mart (WMT) would be more likely than Dollar General to offer a competing bid for Family Dollar, but cautions that it views the potential for another bid as an unknown.
News For FDO;DLTR;DG;WMT From The Last 14 Days
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September 12, 2014
10:00 EDTDG, DLTR, FDOOn The Fly: Analyst Initiation Summary
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06:49 EDTDLTR, FDOSome Dollar Tree owners see upside of Family Dollar offer failure, Reuters says
Analysts are saying that some Dollar Tree (DLTR) shareholders are seeing benefits if the company's $8.5B takeover of Family Dollar (FDO) falls through, by noting that the firm could broaden and repurchase stock with the $309B breakup fee while evading all the instability of a possible acquisition, reported Reuters. Reference Link
06:31 EDTDLTRDollar Tree initiated with a Buy at UBS
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06:31 EDTDGDollar General initiated with a Buy at UBS
Target $81.
06:31 EDTFDOFamily Dollar initiated with a Neutral at UBS
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06:15 EDTDG, FDODollar General waiting on FTC feedback for Family Dollar deal, NY Post reports
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05:57 EDTFDOStocks with implied volatility movement; SDS FDO
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05:51 EDTWMTStocks with implied volatility movement; XHB WMT
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September 11, 2014
12:52 EDTWMTWal-Mart to sell iPhones below suggested prices, Cnet reports
Wal-Mart will begin taking preorders for Apple's (AAPL) iPhone 6 and iPhone 6 Plus for $179 and $29 respectivelytomorrow, and customers who pre-order the iPhnoes will also receive a $15 e-gift card from Wal-Mart, Cnet reported last night. Apple had said it was selling the iPhones for $199 and $299. Reference Link
07:46 EDTDLTR, DG, FDOFamily Dollar should drop opposition to Dollar General deal, WSJ says
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07:13 EDTWMTSome retailers wary of Apple Pay platform, Reuters says
Apple (AAPL) Pay's success is dependent on incorporating more large retailers such as Wal-Mart (WMT) and Best Buy (BBY) into the service, but both retailers recently ceased accepting payments using NFC terminals, according to Reuters, citing comments from Best Buy spokesman Jeff Shelman. Shelman said, "At this point we have no plans to accept Apple Pay." Reference Link
September 10, 2014
13:03 EDTDG, FDO, DLTROn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday, with the Nasdaq comfortably the leader among the major averages. The market opened relatively quietly as investors digested the bevy of research reports surrounding apple (AAPL) and the companies effected by its new products and services announced yesterday. The averages crossed into negative ground early in trading, made it back to positive territory just before the lunch hour, and now are all in the black. ECONOMIC EVENTS: In the U.S., wholesale inventories rose 0.1% in July, which was below expectations for an increase of 0.5%. Wholesale sales rose 0.7%, which was above the 0.6% increase that was forecast. COMPANY NEWS: The strength in the Nasdaq was largely attributable to Apple, which rose about 2.5% the day after unveiling two new, larger iPhone 6 models, the Apple Watch and a new payment system, named Apple Pay... Dollar General (DG) "went hostile" in its pursuit of peer Family Dollar (FDO), commencing a tender offer to acquire all of the company's outstanding shares for $80.00 per share in cash. Family Dollar confirmed the unsolicited offer, noting that the terms are the same as those in the previously rejected proposal made by Dollar General on September 2. Family Dollar said its board will review and consider Dollar Generalís tender offer, but added that the board has not changed its recommendation in support of the company's merger with Dollar Tree (DLTR). MAJOR MOVERS: Among the notable gainers was NPS Pharmaceuticals (NPSP), which rose 21% after several analysts said FDA briefing documents for an advisory panel meeting on its Natpara drug were more favorable than expected. Also higher was clothing and accessories retailer Land's End (LE), which gained nearly 17% after the company's second quarter results beat the estimate of the only analyst that covers it. Among the noteworthy losers was eBay (EBAY), which fell for a second straight day after Apple announced its new mobile payment system, Apple Pay, that could come in direct competition with eBay's PayPal service. Shares of PayPal's parent were downgraded to Neutral this morning at Piper Jaffray and fell 3% near noon. Also lower following yesterday's presentation by Apple was partner GT Advanced (GTAT), which was downgraded at Goldman, Piper Jaffray and Dougherty and dropped more than 14% after it was revealed that sapphire will be used in the display cover of Apple Watch but not the iPhone 6. INDEXES: Near midday, the Dow was up 16.02, or 0.09%, to 17,029.89, the Nasdaq was up 21.10, or 0.46%, to 4,573.38, and the S&P 500 was up 2.62, or 0.13%, to 1,991.06.
10:08 EDTDG, FDO, DLTRFamily Dollar confirms Dollar General unsolicited tender offer
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10:06 EDTDG, FDOFamily Dollar confirms Dollar General unsolicited tender offer
09:27 EDTDG, DLTR, FDODollar General tender for Family Dollar a logical next step, says Wells Fargo
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06:19 EDTDLTR, FDO, DGDollar General commences tender offer to acquire Family Dollar for $80/share
Dollar General (DG) announced that it has commenced a tender offer to acquire all outstanding shares of Family Dollar Stores (FDO) for $80.00 per share in cash. The offer is scheduled to expire at 5:00 p.m., New York City time, on October 8, 2014, unless the offer is extended. The full terms, conditions and other details of the tender offer are set forth in the offering documents that Dollar General will file today with the SEC. Dollar General also will promptly file for clearance under the Hart-Scott-Rodino Act, which will allow the company to begin the antitrust approval process with the FTC. Dollar Generalís all-cash offer of $80.00 per share provides Family Dollar shareholders with a "superior valuation" to the $74.50 per share cash / stock offer announced by Dollar Tree (DLTR) on July 28, 2014. Dollar Generalís offer provides Family Dollarís shareholders with approximately $640M of additional aggregate value over Dollar Treeís offer. As part of a definitive merger agreement with Family Dollar, Dollar General would be willing to agree to divest up to 1,500 stores if required by the FTC and to pay Family Dollar a $500M reverse break-up fee if the transaction did not close for reasons related to antitrust approvals.
06:01 EDTFDO, DGDollar General commences tender offer to acquire Family Dollar for $80/share
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September 9, 2014
10:18 EDTDGDollar General listed among 5 largest long positions by Jana Partners
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08:33 EDTFDO, DLTRDollar Tree, Family Dollar receive second request from FTC under HSR Act
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September 8, 2014
13:26 EDTDGDollar General management to meet with Sterne Agee
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